HSCB rumours add to frenzy

By

Esther Spaarwater

March 9, 2000 5:00 p.m. GMT

Adding to the current banking merger frenzy, rumours circulated today that the UK's HSBC is preparing a hostile bid for Commerzbank.

Although a source at the HBSC, Europe's largest bank by market value, said that such a bid seems unlikely because of the prohibitive price Commerzbank would command, shares in Germany's fifth largest bank surged nearly 13% on the news.